Unaffected by the current global financial crisis, National BondsNational Bonds forecasts healthy returns for 2008

Dubai, 03 December 2008 - As a turbulent 2008 comes to a close, financial institutions the world over are reviewing the past year and looking ahead to 2009. National Bonds CorporationNational Bonds Corporation can look back on an excellent year, in which it saw steady growth and minimal impact of the worldwide financial crisis.

With most of its returns accomplished in the first half of 2008, National BondsNational Bonds was perfectly positioned to weather the storms of the second half of the year.

Moreover most of the fund is being invested in the UAE.

"Being the National Savings Scheme, our Investment Committee has concentrated on short term Sharia-compliant money market instruments avoiding high risk investments," says National Bonds CorporationNational Bonds Corporation's CEO Mohamed Qasim Al Ali.

As a Sharia compliant institution, National Bonds CorporationNational Bonds Corporation adheres to strict Shari'a guidelines regarding its investments, while at the same time it focuses on generating high returns for its bondholders.

"A great deal of our profits in the second half of the year were derived from revenues generated by Islamic short term investments where we obtained better profit rates on a wholesale basis." says Al Ali.

National Bonds CorporationNational Bonds Corporation will announce its 2008 results early next year, with returns for bondholders expected to be higher than 2007. At a rate of 6.03% the 2007 returns for bondholders were higher than the returns on Savings accounts in both conventional and Islamic banks. Against the backdrop of the current financial situation, Islamic financing has emerged as the safest way of investing, reinforcing National Bonds CorporationNational Bonds Corporation's position as "Everyone's favorite place to save".

Building on the successes of the past year, National Bonds CorporationNational Bonds Corporation has an optimistic outlook for the year 2009, with expansion plans for both the investment fund and the product portfolio. In keeping with the stable nature of the institution, it is expected that our growth will be consistent with our strategic plans and the bondholders' best interests.

National BondsNational Bonds can be purchased from over 320 outlets nationwide, including exchange houses and banks. These include Emirates Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank, Dubai Bank and exchange houses: Al Ansari, Al Fardan, Al Ghurair, Redha Al Ansari, Al Rostamani InternationalAl Rostamani International, UAE Exchange, Wall Street Exchange, Lari Exchange, Saad Exchange, Al Razouki International Exchange and Habib Exchange. In addition, National BondsNational Bonds can be purchased online at www.nationalbonds.ae

For more information on National BondsNational Bonds, please visit www.nationalbonds.ae. Or call Toll free 800-BONDS (26637)

-Ends-

About National BondsNational Bonds Corporation

National BondsNational Bonds is everyone's favorite place to save because of the unique, Shari'a compliant simple and safe savings scheme based on the principles of Mudaraba which gave Sharia' compliant profit of 6.03 per cent in 2007 to the bondholders.

In addition, NBC, at its sole discretion, offers, from its own sources, five million dirham monthly prizes to the bondholders through monthly draws

A private shareholding company, National Bonds CorporationNational Bonds Corporation (NBC) is a Dubai-based entity that was launched in March 2006. The Government of Dubai holds a 50 per cent ownership in the company with each of its local shareholders, comprising Dubai Bank, Dubai Holding and Emaar Properties, holding 16.6 per cent ownership respectively. National Bonds CorporationNational Bonds Corporation is Sharia- compliant, with a dedicated Sharia Board to oversee all financial aspects, including product-related operations and investments.

Since its launch in 2006, National BondsNational Bonds has come up with various successful initiatives in community development. In December 2006, it launched "Skycourts," the elegant and affordable freehold residential community in the heart of Dubailand Residence Complex.

National BondsNational Bonds has also launched Taaleem, an initiative aimed at raising quality standards in the Gulf region's education sector.

National BondsNational Bonds is the National Saving Scheme of the UAE that provides UAE nationals, UAE residents and non-residents over the age of 16 with a credible, safe and Sharia-compliant savings scheme based on the principles of Shari'a. Minors can also own National BondsNational Bonds, provided the bonds are purchased by the parents/guardians. Each bond costs AED 10, with a minimum purchase of AED 100; bonds are available in over 320 outlets across the UAE.

Each National Bond holder is eligible to win one of the more than 26.000 prizes every month, amounting to total prize money of over AED five million with a grand prize of AED 1 million.

The fund is based on the principles of Mudaraba, whereby the NBC, in its capacity as the fund manager, and the bondholders, in their capacity as the fund providers, share the generated profit as per the agreed ratio.

For more information please contact:
Naomi Yorks
Account Manager
Memac Ogilvy PR
Naomi.Yorks@ogilvy.com
04-3050328

© Press Release 2008

 

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